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Gamestop is now the proud owner of ThinkGeek

Gamestop has gone and purchased ThinkGeek, right from under the nose of Hot Topics, who was previously in discussions to purchase the company for $122 million dollars. Instead Geeknet, the parent company of ThinkGeek chose to go with Gamestop’s $140 million offer.

GameStop Corp. (NYSE: GME), a family of specialty retail brands that makes the most popular technologies affordable and simple, and Geeknet, Inc. (Nasdaq: GKNT) (“Geeknet”), the parent company of ThinkGeek and ThinkGeek Solutions, today announced they have entered into a definitive agreement under which GameStop will acquire all of the outstanding shares of Geeknet’s common stock for $20.00 per share in cash. The transaction has been approved by the board of directors of both companies and will be completed by means of a tender offer. The transaction has a total equity value of approximately $140 million, including $37 million of cash and cash equivalents as of March 31, 2015. – Gamestop

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